Talent-Driven
Advisory firms may also concentrate on building teams that are so passionate and engaged that clients can’t imagine working with anyone else, said Town.
Innovation And Technology
Financial services is becoming a technology-centric industry, and a certain subset of clients will always gravitate towards firms with state-of-the art technological offerings and the courage to innovate further.
“If you are passionate about technology, or you lean on people that are passionate and help them tie available resources to the things most important to your strategy, you have the opportunity to stand out,” said Town.
Integrated Advice Model
“If I have a network of people providing advice—an accounting firm, a legal company, a mortgage company—and we design a unified offering, clients will say, ‘Wow, they’re doing so much to take care of me,’” said Town.
Distinct Distribution Capabilities
Advisors who have unique ways of getting their messages out through channels like blogs or podcasts, for example, or via a strong community network will enjoy advantages over their peers.